Thailand's Jasmine raises US$1bil from IPO of Internet fund

BANGKOK: Thai telecommunications group Jasmine International PCL has raised 36.7 billion baht (US$1.13bil) through the initial public offering (IPO) of its Internet fund, earmarked for the expansion of its high-speed broadband network.

Jasmine, Thailand's second-largest high-speed Internet provider, confirmed an earlier report by Thomson Reuters publication IFR that it set the IPO price at 10.00 baht per unit, from an indicative range of 10.00 baht to 10.50 baht.